Bill > HR7537

This bill, the Infectious Disease Therapies Research and Innovation Act of 2020, aims to amend the Internal Revenue Code to provide an exception from the passive loss rules for investments in specified medical research small business pass-through entities. Specifically, the bill establishes that losses or deductions from qualified medical research activities carried out by these entities will not be treated as passive losses, subject to certain limitations. It also allows the deduction for research and experimental expenditures and research-related tax credits of these entities to be used in determining the alternative minimum tax. This is intended to incentivize investment in small businesses conducting research on qualified countermeasures, which are defined as medical research related to infectious diseases.

Budget and Finance, Health and Social Services

https://www.congress.gov/bill/116th-congress/house-bill/7537/all-info